U.S. retail sales grew 8.7% in February, with the best performing category being...

According to data from Mastercard SpendingPulse , although current inflation in the United States still exists and commodity prices are gradually increasing, U.S. consumer spending maintained a positive momentum in February .

According to data, in-store and online retail sales ( excluding automobiles ) for all payment methods in the United States in February increased by 8.7 % year-on-year, and increased by 17.3% compared with pre-epidemic data in 2019. The growth rate of retail sales is higher than the growth level in January this year.

Data from Mastercard SpendingPulse shows that despite high inflation , as more consumers return to the workplace, demand for fashion products such as apparel, department stores, luxury goods and jewelry is increasing.

Across channels, as consumers resumed offline shopping , in-store sales in the United States increased by 10% in February compared to the same period last year and 8% compared to the same period before the epidemic . E-commerce sales increased by 4.4% year-on-year in February and increased by 85.9% compared to the same period before the epidemic . In addition, e-commerce is still growing, but its growth rate has slowed down.

In terms of U.S. retail sales, apparel sales grew the most in February . Apparel sales increased 37.6% year -on -year and 34.3% from pre-pandemic levels . In addition, department store sales are also growing rapidly as more consumers are preparing to return to the office and are planning to update their wardrobes after nearly two years of remote work .

In-store sales are also steadily recovering. According to Mastercard SpendingPulse data , in-store growth rates have been recovering for most of February, up 10% compared to the same period last year and 8% compared to pre-pandemic levels . The increase in in-store sales is mainly due to the lifting of many Covid- related restrictions in the United States in February .

Home and furniture sales are also surging around the traditional Presidents Day weekend in February , with year-over-year growth rates for the month up 10.8% and 17.9% compared to pre- pandemic levels in 2019 .

In addition, as more people go out, sales of U.S. restaurants are also recovering, with revenue in February up 39.4% from the same period last year, with growth rates in most states ranging between 30-40%.

USA

Retail